16/08/2006
NEWS STORY
Responding to reports in the German media that it is on the verge of buying out the remaining 60 percent of the McLaren Group, DaimlerChrysler has admitted that it may increase its stake in the company.
"It is no secret that DaimlerChrysler has the possibility to raise its 40 percent stake in the McLaren Group. It has not been decided whether this will happen," said a spokesman for Mercedes-Benz Motorsport, according to Reuters.
DaimlerChrysler acquired 40 percent of the McLaren Group in 1999 in a deal worth over £200m.
Earlier this week, Auto Motor und Sport reported that senior DaimlerChrysler executives had agreed the final details of the deal with Ron Dennis at last month's German Grand Prix.
The remaining 60 percent is owned by Ron Dennis and Mansour Ojjeh, who each own 30 percent. There is a shareholders agreements which means that the shareholdings can only be sold together and cannot be sold independently.
It's thought that should a deal be forthcoming, one of DaimlerChrysler's first moves would be to attempt to keep Kimi Raikkonen on board, where he would partner Fernando Alonso.